The crypto-verse has witnessed a very unusual event, which has been outrageous for investors and marketers from the crypto spectrum. The event is of none other than that of Terra (LUNA). The price dump of the crypto asset has been hard to swallow for the industry.
The fall which had started following the depeg of UST further aggravated following mass liquidations and manipulations. Marketers from the business are still perplexed over the future of Terra Classic (LUNC). And the recently launched Terra (LUNA), which is yet to test the waters.
|Market cap||$ 768,841,921.0000|
|Trading Volume||$ 411,379,336.0000|
|All time high||$ 119.1800 Apr 5, 2022|
|All time low||$ 0.0000 May 13, 2022|
Terra Classic (LUNC) Price Projection For June Of 2022
The price of LUNC at the time of press is changing hands at $0.0001409 with overnight gains of 63.59%. While the market capitalization is hovering around $920,943,017. The volume of trades for the past 24-hours is up 37.63% at $145,961,622. That said, the price of the altcoin had been moving in the 24-hour bandwidth between $0.00007912 and $0.0001409.
Moving forward, the projection of the altcoin still remains in the mist. Which has further aggravated following the launch of LUNA, on the 28th of May. This comes despite the healthy double-digit gains. That said if the trajectory remains bullish. We can expect a price tag of $0.0002 by the end of the second quarter.
*Stay tuned for an in-depth prediction, which would be reupdated as soon as LUNC stabilizes.
What Does The Market Say?
Digital Coin Price:
As per the prediction of Digital Coin Price. The price of LUNC might escalate to its maximum of $0.000188 by the end of 2022. Whilst a reversal in trends could knock the price down to $0.000163. A balance in buying and selling pressures could land the altcoin at $0.000176. The firm also hosts predictions for the long term. Accordingly, the altcoin is expected to soar to a maximum of $0.000279 by the end of 2025.
Click here to read our price prediction of Polkadot (DOT)!
What is Terra (LUNA)?
Terra (LUNA) is a blockchain protocol launched in 2018 by Daniel Shin and Do Kwon. The digital asset was created with a vision to adjust the modern economy’s flexibility. As per the whitepaper, Terra employs a price stabilization algorithm. That constantly balances the supply of a coin, with an aim to keep the prices stable.
The Terra network offers lower fees, high scalability, stability, and reliable financial assets. The protocol’s native asset is LUNA, which addresses a host of issues related to speed, scalability and accessibility.
Terra intends to set itself apart, with the help of its fiat-pegged stable coins. As it clubs the benefits of cryptocurrencies with the day-to-day price stability of fiat currencies. The protocol holds a number of partnerships with payment platforms, which justify its strengths.
Conversely, Terra is also supported by Tera Alliance. In February of 2019, the company had reported that e-commerce platforms from 10 different countries, with a user base of 45 M. And a gross commodities value of $25 B were members of the alliance. In contrast, the network now boasts $19.55 Billion in TVL. Terra now stands second to Ethereum, with a market share of 11.31%.
Historic Market Sentiments
Terra (LUNA) entered the market in the month of April 2019 with an ICO of $0.8. Initially, the price was hovering at the same price till the end of June. As a result of Coin’s partnership with Chai, the price spiked to an all-time high of $1.3133 by the end of July.
Further, the coin failed to consolidate around the same price, which dramatically reduced to $0.2588 by the end of the year.
The price started the year with a low price of $0.231, the coin lingered at the same price for around six months with no upgrades.
A result of the security upgrade and being listed on the Huobi exchange in the month of July resulted in a decent surge of the price to $0.5642. But again the price struggled to sustain above that level till the month of December.
In the month of December, Terra launched the Mirror protocol, which allows traders to issue synthetic assets. This launch gave an immense boost to the coin’s price, which hit $0.6525 by the year-end.
The year 2021 was extremely positive for Terra, as the coin started its bullish rally from the very first day. With a trading value of $0.6494, Terra resumed its run in January. By the mid of march, the price of the coin surpassed $21, as a result of the success of the Anchor protocol launch. Then, woefully plunged back to $13 as bears overtook the market in the month of April.
In the month of May, as a result of the market collapse, Terra prices slumped by 70% causing the cryptocurrency to tank as low as $4. Then the price hovered around $6 till the month of July. Terra registered a new all-time high at $33.12 on the 19th of August, amidst increasing bullish sentiment and powered partly by a boosted supply of UST and Terra network upgrades.
The LUNA price has seen exponential growth post the commencement of Q4. It has successfully generated consequent higher lows with incredible gains over the past three months. However, the price has managed to undergo subsequent retests at $27.5, $35.6, and $41.69 respectively.
A sharp break out at $40.05 has skyrocketed the price to a new ATH of $60.07 on December 1st, 2021. On 24th December 2021, the LUNA spiked to an ATH of $101.27. The digital asset had closed the annual trade at $90.97.
To learn about the price prediction of Ethereum for 2022 and beyond click here!
A: The altcoin is listed on prominent cryptocurrency exchange platforms like OKX, Bybit, FTX, and DigiFinex amongst others.
A: After the tragic losses post the depeg event nothing much can be said about the altcoin.
A: The circulating supply of LUNC is 6,536.40B LUNC.
A: LUNC hit its ATL of $0.00001675 on the 13th of May 2022.
A: The chances of the altcoin reclaiming its ATH now seem to be bleak.